The Soft DAO will airdrop SOFT tokens to community members that participated in its testnet and to key account holders with Tokensoft, a compliance provider.

Soft DAO is a relatively new organization, having published its whitepaper on Oct. 12, 2022, with closing dates for discussions on Oct. 15, 2022.

According to its whitepaper, Soft DAO’s SOFT tokens will grant holders governance rights that can be used to influence Soft DAO’s smart contracts and services. The airdrop will occur in two phases. The first phase will send SOFT tokens to 14,000 community members who participated in an early testnet. The second phase will airdrop tokens to users that took part in certain events on the Tokensoft platform, which is the project’s compliance partner. People can register on Tokensoft before Nov. 7, 2022, to qualify for the second round of tokens.

Tokensoft is a Web3 platform that ensures that Web3 projects and token sales comply with applicable laws. Tokensoft also provides Know-Your-Customer and Anti-Money laundering checks for individuals participating in token airdrops. It partnered with Avalanche for a $42 million token sale in 2020.

At press time, the Soft DAO had garnered over 8,000 followers on its Twitter account. It has, however, been relatively quiet, only posting two tweets. There is also scant evidence of bot activity promoting the token on social media, which is a good sign that the project is not a scam. But it is still essential to research to determine if this project is legitimate. 

DAOs and DeFi protocols use airdrops to create greater awareness of their projects. An airdrop sends a project’s tokens to community members that have participated in certain activities. 

One example is Ethereum layer-two rollup Arbitrum, which announced the Arbitrum Odyssey project earlier this year. To qualify for an NFT airdrop, users had to complete a list of weekly tasks. Offchain Labs, the corporate entity behind Arbitrum, paused Odyssey for the Nitro upgrade earlier this year. It will likely re-launch the Odyssey program soon. You can stay tuned here.

Recently, Blur.io, an NFT marketplace, announced two airdrops. The first airdrop, launched on Oct. 19, 2022, was designed to drive traffic to its marketplace by rewarding those who have listed NFTs on the platform in the last six months. Listers will receive an airdrop of a care package with locked governance tokens that will be unveiled in Jan. 2023. The deadline for listing an NFT for the first airdrop is Nov. 2, 2022. The second airdrop will reward those who actively list their NFTs on the platform throughout Nov. 2022.

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The post Soft DAO Airdrop Set to Release Next Week: What You Need to Know appeared first on BeInCrypto.

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